TheIdeaStartup.com Launches Business Plan Development Platform
Published July 20th, 2009
TheIdeaStartup, an end-to-end business plan and financial forecasting development tool, today announced general availability of its solution for business students and entrepreneurs. TheIdeaStartup is a web-based platform that combines real-time communication, collaboration and business planning software in a team friendly environment. First launched as a beta version in January 2009, MIT Sloan School and Northeastern University have been testing the system and both schools have plans to implement the software for business classes this fall.
The system is ideal for collaborative coursework in MBA programs. Currently, most students developing these plans are often faced with ad-hoc methodologies to incorporate financial data, market industry research, and various other components of the process. Development and collaboration tools allow teams to work together and, more importantly, leverage each team member’s skills appropriately.
“I’m strongly suggesting that my students use TheIdeaStartup platform for future development of their business plans in my New Enterprise course,” said Howard Anderson, MIT Sloan School professor and founder of Yankee Group. “Often too much time is spent on the minutia of formatting and setting up collaborative systems rather than on the core strategy development needed in a stellar business plan. With TheIdeaStartup students create bottom-up financial projections in a uniform manner, something that will continue to improve the quality of the business plans our students present.”
With the IdeaStartup platform users can enter critical data points into the system and receive projection information that will be necessary in assessing the feasibility of a concept. TheIdeaStartup simplifies the development of future projections, an integral first step in developing any business plan. This process enables the user to focus their time into refining their business model, strategy, and industry assumptions.
“Our platform will make it easier for students, entrepreneurs, and business development teams to write these plans and create financial projections,” said TheIdeaStartup Co-Founder Ray Di Nizo. “TheIdeaStartup helps you deliver what is ultimately a stronger business plan to your audience much faster. While we don’t supply the content of the plan—and the viability of the plan is dependent on the quality of that information—we do give entrepreneurs the tools they need to make the plan as strong as possible.
The site includes social networking, online team collaboration, and business planning software in an online environment designed to foster the innovation needed for a start-up to thrive. The networking aspect even gives idea-owners the ability to search for others with specific skill-sets and prior experience needed to get an idea developed.
Combining the best features of business planning software and business social networks such as LinkedIn; TheIdeaStartup.com offers a new approach to the business plan development process. Other features include:
Business “Plan” development tools with integrated real-time team collaboration
Powerful financial modeling
Dashboard and RSS newsfeeds
Databases for various types of documents
Social networking twist to connect with other budding entrepreneurs
About TheIdeaStartup
Co-Founders Raymond Di Nizo and Matt Chepeleff formulated TheIdeaStartup platform while in a business course at Northeastern University in 2006. Faced with no structured system for creating pro-forma financial projections, Ray and Matt set out to build a networking program with business plan tools that would promote idea collaboration and support the development of new business initiatives. Upon graduation in 2008, they formed TheIdeaStartup to help roll out the platform. TheIdeaStartup is headquartered in Somerville, MA. More information can be found at www.theideastartup.com.
